Kirloskar Electric gains after delivery of a transformer in Vietnam

Kirloskar Electric Company rose 1.25% to Rs 20.30 at 12:13 IST on BSE after the company said it has successfully exported a generator duty transformer of 24/30 MVA, 115/38.5/10.5 kV for a hydro-electric project in Song-Giang, Vietnam.

The announcement was made after market hours on Monday, 23 December 2013.

Meanwhile, the S&P BSE Sensex was up 12.05 points or 0.06% at 21,113.08.

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 6,946 shares in the past one quarter.

The stock hit a high of Rs 20.70 and a low of Rs 19.50 so far during the day. The stock had hit a 52-week high of Rs 25.90 on 24 December 2012. The stock had hit a record low of Rs 13.05 on 25 September 2013.

The stock had outperformed the market over the past one month till 23 December 2013, surging 11.39% compared with the Sensex's 4.37% rise. The scrip had also outperformed the market in past one quarter, jumping 40.11% as against Sensex's 6.03% gain.

The small-cap company has equity capital is Rs 50.52 crore. Face value per share is Rs 10.

Separately, Kirloskar Electric Company said that the lay-off at the company's factory situated in Mysore has been extended till 24 January 2014.

Kirloskar Electric Company had on 2 December 2013 said that as a part of its continued efforts to improve the operating efficiency and to optimize the productivity of the resources, the company has announced lay-off for 53 workmen at Electronic unit at its factory situated in Mysore with effect from 25 November 2013 till 24 December 2013. The turnover of this unit in the total turnover of the company is less than 1.5%, the company said at that time.

Kirloskar Electric Company's net profit fell 62.8% to Rs 0.35 crore on 6.9% decline in net sales to Rs 182.59 crore in Q2 September 2013 over Q2 September 2012.

Kirloskar Electric produces more than 70 products under 8 different product groups, catering to core sectors of the economy like power generation, transmission and distribution, transportation, and renewable energy, sugar, steel, cement, and allied industries.

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